Gavin Collins has joined Trumid in a newly created role to head up its dealer-to-client Attributed Trading protocol.
He has two decades of experience in the capital markets industry and was previously Neptune’s chief technology and product officer, having joined back in 2021. Before that he held senior technology and product management roles at: UBS, BNP Paribas, Deutsche Bank, NatWest, and Citi.
In this new role, Collins will oversee the development and expansion of AT. With nearly every major dealer and leading algo stream provider integrated and participating in Attributed Trading (AT), the focus is now on further digitising the core infrastructure, Trumid told The TRADE.
“Built and established over the past five years, Trumid AT is a relationship-based protocol that aggregates and disseminates pre-trade data insights (axes and inventory) from major dealers and leading algorithmic liquidity providers, all within one application,” Trumid told The TRADE, adding: “AT enables bilateral non-comp trading between dealers and their buy-side clients, uniquely closing the execution loop, with post-trade processing, and rate hedging flexibility.”
Almost 60 major dealers and leading algorithmic liquidity providers stream actionable market data daily on AT.
In recent times, AT saw buy-side participation drive growth with the number of users up 50% year-on-year and a record month in January in terms of traded volume and number of clients executing trades.
Speaking to The TRADE about the motivations behind AT, Trumid explained that the creation of the offering stemmed in part from a buy-side desire for aggregated data streams to execute against and the ability to distribute axes more efficiently.
“At Trumid, we adopt a collaborative client approach, combining market expertise with client feedback to innovate and optimise our product and liquidity pool. Post our launch, as we continued to build our network and engage with some of the largest dealers, their needs focused on how to distribute axes in a more targeted and efficient way with the ability to negotiate in a structured format electronically. Additionally, more and more buy-side clients were seeking aggregated data streams to execute against.”